New owner paid $2.82 million for south Rochester hotel
Rochester Lodging LLC, of Schaumburg, Illinois, purchased the Days Inn & Suites by Wyndham hotel at 3595 Commercial Drive SW for $2.82 million on June 29.
ROCHESTER — A new owner paid $2.82 million to check into a south Rochester hotel.
Rochester Lodging LLC, which lists a Schaumburg, Illinois, residence owned by Vithal and Kamala Patel as its headquarters, recently purchased the Days Inn & Suites by Wyndham hotel .
The sale of the 114-room hotel at 3595 Commercial Drive SW closed on June 29. Rochester Lodging, which shares its home base address with Monona Lodging Inc., paid a down payment of $705,000.
Woodbury, Minn-based AMSA Hospitality, which lists the residence of Akm and Afrin Alam as its address, sold the 14-year-old extended stay hotel for $900,000 less than it purchased it for in 2019.
AMSA Hospitality paid $3.72 million to Somitex, LLC of Sioux Falls, S.D.
Olmsted County estimated the total market value of the 45,488-square-foot hotel at $2.17 million for 2022-2023, which is down from $2.59 million the previous year.
Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in "Heard on the Street." Send tips to firstname.lastname@example.org or via Twitter to @whereskiger . You can call him at 507-285-7798.